Michelle Gordon

Are you thinking about a buying a home outside of the city? Did you know there is an 100% loan called RD or Rural development loan from the United State Department of Agriculture? I have been using this loan more and more...............and it can be combined with a MSHDA loan as well.

The appraisal will be similar to a FHA appraisal, and it will only finance modular homes if they are new, but all other homes in their target area could qualify.

Even though this is a 100 percent loan, you will still have closing cost and pre-paids, but many times this will/can be paid by the seller. However I still recommend to have $1,000.00 in the bank for earnest money and or any additional fee's that may accrue, just to be safe.

There are income limits as well. So I refer you to the RD web siteto get more information. You can check your eligibility and even check to see if an address of a home qualifies for location. Very user friendly website!

You can also apply for a loan on this site as well, however my experience is go through a lender instead of going directly through them, it goes smoother and you have somebody work for you to get it done.

Some of the area's it applies to in Kent County but not limited to is:

Cedar Springs

Rockford

Calendonia

Belding

Lowell

Allendale

Walker

Worth your time to check this out...................as you can save your money for improvements. However a good question to ask is, if you use this loan can you still qualify for the tax credit? If anyone knows can you post the answer here. please?

The Yahoo articlehas dubbed Grand Rapids/Wyoming in the top 5 for the most affordable housing markets! This is not the first time Grand Rapids has had great press! Matt Lauer did one not too long ago and featured East Grand Rapids, Michigan. There have been several others in the last few years.

The Yahoo article is a good one, talking about affordable housing, a snip it "The house cost $48,000. "If you have the credit score to do it, there's nothing that can stop you from buying a home" Which is what I have been say all along.

However they do go on to say "The most affordable markets, on the other hand, haven't changed very much. They didn't appreciate much during the boom, and most aren't seeing dramatic declines. "The most affordable places are mostly where there are no job markets"

I do agree with this statement for the most part as we are experiencing job losses just like everyone else, but we did have a real estate boom in many area's! Not to compare our selves with places like Florida or California, but we did have a great selling market 7 years ago! I think with the job losses, new one are coming, but are different.............we are not as much manufacturing as we once were............in my opinion we are becoming more metro and more of a service industry..............so people will move out to find a job like the one they used to do here, but others will move here for the"new" job market that is coming.

Changing......we are changing............

Maybe someone can fill me in. I keep hearing the economy is bad so do not buy a home right now. However I am not understanding this logic. And there may be very good reasons.............that I do not realize, so I am wondering if you can help me out.

Unless your job is at risk, I just do not get the mind set of not buying now.

Interest rates are still very good, the inventory of homes are great and the BARGAINS are awesome. Is there an impression that when the economy get better, that these issues will get even better? I think when the economy gets better...............the opportunity to buy low and with a great interest rate will not be so good. And that the special home buying programs will go away. (as we have seen many go away thus far, and the ones left will too, mark my words)

Home sales help improve the economy. So if you have a stable job, and are renting a place and can get approved for a home loan, why are you not doing so?

I am not writing this to convince you to buy, I really do want to understand the mind set and what buyers are thinking.

So, 1st time home buyers, please explain..............I want to hear your opinion!

*******UPDATE*******

An article from Real Clear Politics

I was doing some reading on the Tax credit for 1st time home buyers. Now if I am reading this right: It states you can have a reduced amount of federal tax with held from your pay check. This allows to you get a bigger pay check, with the intentions of saving this "extra" money for your down payment..........

It also states if you do not use it for down payment you must pay it back right away.

Here is the a snip it form the website:

Is there any way for a home buyer to access the money allowable to the credit sooner than waiting to file their 2008 tax return?
Yes. Prospective home buyers who believe they qualify for the tax credit are permitted to reduce their income tax withholding. Reducing tax withholding (up to the amount of the credit) will enable the future home buyer to accumulate cash by raising his/her take home pay. This money can then be applied to the down payment. Buyers should adjust their withholding amount on their W-4 via their employer or through their quarterly estimated tax payment. IRS Publication 919 contains rules and guidelines for income tax withholding. Prospective home buyers should note that if income tax withholding is reduced and the tax credit qualified purchase does not occur, then the individual would be liable for repayment to the IRS of income tax and possible interest charges and penalties.

Well I was going to do a GREAT localism blog, but when doing my research I have found the GR-Now did a wonderful one of all the October activities and I am not sure I could do a better one!

So I will supply you with all the links below:

However I will write about my own experiences!

I love Halloween! I love dressing up and pretending to be someone else for an evening. When my kids were of the age for trick or treating, I went all out on the costumes, it was an event...........making home made costumes and pumpkin carving, roasting the pumpkin seeds.....then on trick or treat night, visiting with all the neighbors and greeting all the kids when coming to our house!

As the kids got older I enjoyed the corn mazes! Very fun! The one at Klackle Orchards is very big. They give you clues to find in the maze and if you find all of the clues you get a prize. They also have a pumpkin car that takes you out to the pumpkin patch.

2008 Fall, Haunted House & Halloween Guide

Other Fall activities of interest:

Fall peek map...............if you feel like taking a Sunday drive to see all the wonderful colors of Michigan, here is a map for you to follow!

Stories of Haunted Michigan..............fun to read by the camp fire!

A romantic / scary get away? Try Big Bay Point Light, Big Bay, Michigan a light house that has been turned into a bed and breakfast! A snip it from an article about the light house "William, dead these past 105 years, apparently still insisted on "helping"-until innkeeper Linda Gamble angrily told him off when his slamming of kitchen cabinet doors awakened her one night a few years ago. Neither William nor the other five resident ghosts have been heard from since. Well, so far, anyway"

Happy fall everyone!